WASHINGTON — March employment data show slight additional weakening as payrolls dropped another 663,000 and the January-February revisions totaled minus-86,000. Job losses were widespread as the one-month diffusion index dipped to 22.0% and the civilian unemployment rate jumped 0.4 point to 8.5%, its highest level since 1983 in the aftermath of another deep recession.
Hours and wages weakened — average hourly earnings gained 0.2% to a 3.4% rise over the year — suggesting weak production and income data ahead.
— Market News International
